08.10.2008 - Platinum climbs past $1,000 on hedge buying; Palladium declines
From Bloomberg: Platinum rose above $1,000 an ounce, extending yesterday's gain, on buying by investors seeking alternatives to currencies, stocks and bonds amid a spreading credit crunch. Palladium fell. The financial crisis wiped out more than $6 trillion from U.S. equities in the past year, Bloomberg data show. Some investors buy precious metals including platinum during financial-market upheavals to preserve value. The dollar fell as much as 1.3 percent against a weighted basked of six major currencies including the euro and yen...... Full Article: Source
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